Chairman of Fed said that the main motivation to the US to issue a central bank's digital currency (CBDC) of the country is to eliminate the opportunity to use virtual money on American land ... 0:00 / 4: 34 Southern National President Fed Jerome Powell.In the currency policy hearing last week before the US Congress, the US Federal Reserve (Fed) Jerome Powell once again showed that he didn't like anything virtual money , especially the stablecoin coins
. Powell said that the main motivation to the US to release the national bank's digital currency (CBDC) of the country is to remove the opportunity to use virtual money on the United States. "It won't need a stablecoin, will not need virtual money, if there is a US digital currency. I think it's one of the firm arguments to support the release of central banks, "Powell said
Fed officials and American MPs have long been concerned about the rise of StableCoin - Virtual currencies are tied to real properties, such as banknotes such as USD or a commodity like gold, typically the Tether copper is tied to the USD. StableCoin is being used more and more in domestic and international transactions in the US and many other countries, making the central banks worry about because there is no authority to regulate this field. "I understand why they Fear of stablecoin ", founder NIC Carter of Castle Insland Ventures said. "I can see why they are concerned when a large part of the commercial banking operation is moving to the field that is almost without this regulation". However, Mr. Powell is not really excited about America releases a separate CBDC. When a member asked, he replied that he had not yet determined whether the benefit of a digital dollar brought more than the cost less or the digital.USD has competition with StableCoin ? Only one thing is that the Fed doesn't want to continue to stablecoin "to rain". "We have a tradition in this country about where the money is stored and where is the real asset safety. It is not in stablecoin, and if they become an important part in the field of payment, we need a suitable framework
Currently we have no such framework, "Fed president said. As mentioned above, Mr. Powell came to the Fed CBDC released to compete with StableCoin, but the analyst indicates that a dollar Digital will not have an important advantage like stablecoin. "Stablecoin is common because they are independent from the central politicians and banks", manager Mati Greenspan of Quantum Economics. "People want separation between the government and money. CBDC doesn't get that. "Some experts said that technically, a digital dollar released by FED will be safer than the stablecoin due to private release, but stablecoin users are not really Need to safety, which needs an easier way to trade, especially in international transactions. Alyse Killeen, the founder of the venture capitalist company specializes in Bitcoin named Stillmark, thinks that The presence of a CBDC in the US will not degrade the value of virtual money. "Many people recognize the loss of autonomy when they have to wait and allow to spend money. It is a relatively common experience when they are blocked while making a transaction on the banking system, on debit cards or credit cards, when the transaction is done outside the bank's working hours or In addition to personal spending habits identified by the Bank, "Killeen said. "A digital currency released by the FED may have such problems." Do the Fed is concerned with StableCoing to prefer the Fed's worry about the emergence of virtual money, including StableCoin, analyzer Give some causes. First is worry about losing money control. According to the economist Michael Bordo of the University of Rutgers, Facebook Social Network is planning to release a stablecoin named Diem and this virtual money "successful in replacing the central bank's money in person People, the FED will face difficulties in managing money supply, and broader than operating monetary policy "Besides, it is a concern about currency sovereignty decline. "If you or even a Chinese CBDC accepted by many other countries, the dollar will lose its dominant position," said Bordo. The central banks like Fed also worry about the outside stablecoin is anchored Forcing into real money, but in fact not guaranteed by monetary sovereignty but by financial assets. Mr. Ronit Ghose - Head of Citi Global Insights' Financial and Financial Financial Technology department - said this is similar to the operation method of Money Market Fund. "StableCoin is like when you are Watch a 'fake' movie. In fact, you don't see the original movie, "Ghose said. This is a real thing that makes Fed worried. Virtual money like Bitcoin doesn't "pretend" like real money, but "StableCoin can bring you a moment . Dịch vụ:
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